Philip Morris CFO Emmanuel Babeau to step down Aug 1, transition to advisor through March 2027

Filed July 9, 2026 · Period ending July 6, 2026 · ~1 min read

Key Changes

• high

  CFO Emmanuel Babeau will step down effective August 1, 2026, replaced by Massimo Andolina (currently President, Europe Region). Babeau will serve as Strategic Advisor to the CEO through March 31, 2027.

  Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR →
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  During the advisor period, Babeau will receive his current base salary of CHF 1,260,012 ($1,563,423) and be eligible for his 2026 annual cash incentive at 125% of base salary (target ~$1.95M), contingent on continued employment.

  Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR →
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  Upon separation March 31, 2027, Babeau will receive lump sum severance of CHF 1,260,012 ($1,563,423), plus CHF 393,754 ($488,570) representing pro-rated 2027 incentive. All outstanding equity awards will fully vest.

  Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR →